Hardly news but mainstream media reports suggest it is.

There is no doubt that the disparity between rich and poor has been growing steadily over the last 4-5 decades. In fact the divide between the ‘haves’ and the ‘have nots’ is worse today than it was during feudal Britain when serfs owned no property at all, this is due to the shrinking number of ‘haves’ and increasing numbers of ‘have nots’. Today we have fewer ‘haves’ and more ‘have nots’ than during the feudal period.

Many people have been oblivious to their shrinking assets and insidiously reducing incomes mostly from a lack of understanding of basic maths or accounting. Today more Canadians have their names on title on real property than ever before in the history of this country – but very few actually ‘own’ their property. For the most part Canadians owe so much debt that they actually own very little of anything.

Having stuff is not the same as owning stuff. For many Canadians access to debt (credit) is the difference between having a house and renting a house or having a car and riding a bus, sadly even grocery shopping and visiting the food bank.

Are you a have or a have not?

Insolvency laws are very complicated but we make them easy for you to understand. We tell you what you need to know very simply with handouts and other materials.